Overview

China Eximbank provides $150 million loan for 1.2 Million All-Steel Radial Tire Production Facility Project

Commitments (Constant USD, 2023)$155,698,124

Commitment Year•2019Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 6, 2019

End (actual): Apr 1, 2021

Last repayment (originally scheduled): Mar 4, 2027

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

The purpose of the project was to construct a production facility in Tân Phước district with the capacity to generate 1.2 million all-steel radial tires annually in Vietnam. More detailed locational information can be found at https://www.google.com/maps/place/C%C3%B4ng+ty+TNHH+L%E1%BB%91p+ADVANCE+Vi%E1%BB%87t+Nam/@10.4756822,106.3151132,15z/data=!4m5!3m4!1s0x0:0xa201d91ca9e05ca0!8m2!3d10.4756822!4d106.3151132 and https://www.openstreetmap.org/way/740842055

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Joint Venture/Special Purpose Vehicles

Advance Tire (Vietnam) Co., Ltd.

Implementing agencies

Joint Venture/Special Purpose Vehicles

Advance Tire (Vietnam) Co., Ltd.

Guarantors

State-owned companies

Guizhou Tyre Co., Ltd. (Guizhou Tire Factory)

Loan desecription

China Eximbank provides $150 million loan for 1.2 Million All-Steel Radial Tire Production Facility Project

Interest type•UnknownMaturity•8 years

Narrative

Full Description

Project narrative

On March 6, 2019, Advance Tire (Vietnam) Co., Ltd. — a special purpose vehicle (SPV) and wholly owned subsidiary of Guizhou Tyre Co., Ltd. — was legally incorporated in Vietnam to develop an all-steel radial tire production facility. China Eximbank subsequently issued a $150 million loan to Advance Tire (Vietnam) Co., Ltd. for the 1.2 Million All-Steel Radial Tire Production Facility Project. The loan carried an 8-year maturity. Guizhou Tyre Co., Ltd. issued a corporate guarantee in support of the loan. The purpose of the project was to construct a production facility in Tân Phước district with the capacity to generate 1.2 million all-steel radial tires annually in Vietnam. The facility produced its first batch of tires on April 1, 2021.

Staff comments

1. The Chinese project title is 贵州轮胎股份公司越南投资项目. 2. The SPV is also known as Advance Tyre (Vietnam) Company Limited). Its Vietnamese name is CÔNG TY TNHH LỐP ADVANCE VIỆT NAM.